These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.Today we saw a nothing day. But technically speaking, the market has indeed stayed above the danger levels on a short term basis. We could continue with the levels mentioned for yesterday.
Short term traders could now do well to raise their stop to the 5385 level to lock in loss of capital. Longer term traders could wait for a close below 5385.
If in the next few days, this gap is left open, we could be seeing a short term runaway gap, which signals an extremely bullish scenario for the market. Further, if the Nifty moves up higher than 5546, that too would be a bullish signal.
1 comment:
Sirji, i need an indicator about which u had mentioned long back on the internet. u had devised a custom indicator wherein price meets time (fib-gann crossover), which remained "fixed" while zooming in or out.
can u pl provide a link?
reg
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